Oil prices have gained another 10% over the past week, continuing a recent upward trend based on the expectation of some action by key players within and outside Opec over production levels.
Falling US gasoline inventories helped markets on both sides of the Atlantic.
Benchmark Brent crude was worth $40.80, up by $1.15, per barrel in late afternoon trading on Wednesday. This compared with about $37 per barrel at the same time the previous week.
